02 December 2011 10:07 [Source: ICIS news]
The majority of the cargoes will be sold to contract buyers at $1,450-1,550/tonne on an FOB (free on board) basis, the source said.
However, the buying interest for December material from most downstream buyers in
The December prices of food-grade white oil is currently at around $1,450-1,550/tonne FOB
In addition, the buyers are reducing their expenditure towards the end of the year, the trader added.
FPCC has a steady supply of white oils with a production capacity of 4,000-5,000 tonnes/month, while Chinese demand for the product is expected to rise next year, when the 5% export tariff for white oils under the Taiwan-China Economic Cooperation Framework Agreement (ECFA) is abolished, a second trader in
Food-grade white oil is a highly refined oil that is used in the manufacture of food-related cosmetic and pharmaceutical applications.
($1 = CNY6.37)
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